Daily ETF Roundup: XLP Rallies Alongside Consumer Staples, INDY Pops

Reversing earlier losses, U.S. equities closed higher once again today with the S&P 500 and Dow Jones Industrial Average logging in fresh highs. In economic news, industrial production for April fell more than expected, while the Federal Reserve Bank of New York reported a disappointing reading for its May Empire State index of manufacturing activity. Elsewhere, home builder’s confidence came in above expectations, while the producer-price index for April fell slightly more than expected [see The Cheapest ETF for Every Investment Objective].

Following a slight morning pullback, all three major U.S. equity indexes managed to close in positive territory. The S&P 500 ETF (SPY, A) rose 0.54%, as its underlying index rose to hit a new record high of 1658.78. The Dow Jones Industrial Average ETF (DIA, A-) ended 0.43% higher, while the tech-heavy Nasdaq ETF (QQQ, A) rose 0.22%.

In Europe, markets ended slightly higher though the euro-zone economy was reported to have contracted for a sixth straight quarter: the Stoxx Europe 600 reversed earlier losses to close up 0.8%. Meanwhile, Asian markets were mostly higher; Japan’s Nikkei Stock Average slipped rallied 2.3% on a weaker yen.

The Consumer Staples Select Sector SPDR (XLF, A) was one of the best performers today, gaining 1.01% during the session. Consumer staples shares were among today’s top performers, allowing this ETF to rally throughout the majority of the day. XLP slid sideways during the final hours of trading, eventually settling at $42.14 a share [see Consumer Centric ETFdb Portfolio].

The S&P India Nifty Fifty Index Fund (INDY, C+) also posted a strong performance, gaining 2.26% during the session. As investors piled into riskier assets, this ETF gapped significantly higher at the open. INDY slid sideways for the remainder of the day, eventually settling at $25.82 a share [see BRIC-or-Bust ETFdb Portfolio].

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ETF Fun Fact Of The Day

The best-performing regional strategy over the trailing 1-year period has been the Euro Free Europe Portfolio, which has gained 21.91%.

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